CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Levels to watch: FTSE 100, DAX and Dow

Recent gains have seen the indices move towards key resistance levels. Will they break through or turn lower?

FTSE 100 pushing towards key resistance level

The FTSE 100 has maintained its bullish momentum, as the index pushes towards the 7371 resistance level.

The wider uptrend seen over the first months of 2019 points towards a bullish break through 7371 to continue the trend of higher highs and higher lows. As such, watch for a potential break through resistance to signal further upside over the short term. An inability to break that level could mean some form of pullback instead.

DAX starts to weaken after recent rally

The DAX has been easing back following a rally into the 76.4% Fibonacci resistance level. The prior drop below 11,405 pointed towards this rally being a possible retracement before we turn lower once more.

This could be the beginning of that move, where a break through 11,825 would be required to negate the possibility of a bearish reversal. Until then, watch for whether we can build any bearish momentum from here.

Dow consolidates at key resistance level

The Dow Jones has rallied into the critical 26,241-26,277 resistance zone, representing the peaks from late February and last November.

With the index starting to show signs of weakness, this resistance zone could prove too much for now. As such, watch for a bearish turn from here, with a break through the 26,300 region required to signal a continuation of the recent gains.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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